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Today, I'm exploring the tax proposals of two prominent U.S. presidential candidates: Vice President Kamala Harris and former President Donald Trump.

We'll take a close look at their stances on taxes and the potential effects on everyday Americans, particularly focusing on the Tax Cuts and Jobs Act (TCJA) of 2017. This legislation, passed during Trump’s administration, brought significant tax reductions for many Americans, but its expiration is set for 2026. If it is allowed to expire without extension, taxes will automatically rise for most people.

Although Harris has not explicitly said she would push for these tax cuts to expire, letting them do so would, by default, increase taxes. However, she has proposed other tax policies that may offer different incentives and benefits. Meanwhile, Trump has been clear in his intention to maintain the current tax cuts.

Throughout the video, I'll aim to keep things factual and unbiased, so you can make an informed decision about the impact of these policies on your financial situation. Let's dive into the details of each candidate’s tax plan and their potential effects on you.

🔔 Don't forget to subscribe for more insights on real estate investing and business strategies!

Show Notes:
0:00 Intro
1:56 Tax Brackets
2:58 If The Tax Cut and Jobs Act Expires
4:14 State & Local Tax Deduction
8:16 Bonus Depreciation
10:45 Opportunity Zones
14:04 Buyback Shares
16:26 Tariffs
18:16 Net Investment Income Tax
21:33 Final Notes
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

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